Buyer competition was unseasonably hot in January. Many house hunters continued to face bidding wars as housing inventories dropped to all-time lows.
The National Association of REALTORS® reported the fewest number of homes for sale on record in January. Nearly 80% of homes on the market sold in under a month.
Where People Are Moving: Inbound, Outbound States
The pandemic has prompted a lot of moves. A new migration study shows an increase in relocations from 2020 to 2021, whether triggered by an increase in remote work flexibility, the “Great Resignation,” a desire to be closer to family, or other reasons.
The newly released 2021 Atlas Van Lines Migration Patterns Study shows 12 U.S. states that were classified as outbound, meaning more people moved out of the state rather than in. Eighteen U.S. states were classified as inbound, where more people moved into the state.
Overall, Maine ranked as the nation’s inbound leader for the first time, following Idaho’s two-year run. Arkansas, Hawaii, Montana, and Florida made the “inbound” list for the first time since 2002, 2003, 2013, and 2016, respectively.
Privacy Concerns Rise With Smart-Home Tech Adoption
While smart-home technology adds convenience to a homeowner’s lifestyle, many Americans remain concerned about potential shortcomings when it comes to users’ privacy. The average person owns five smart-home devices, according to a new poll of 1,000 consumers conducted by Frontier, a telecommunications company. The most popular smart devices are TVs, speakers, and lightbulbs.
Buyers’ Wants Are Changing
The size of new homes is increasing as the pandemic continues and home shoppers look for more space to spread out. The average size of a new home has risen to 2,524 square feet, the National Association of Home Builders reports.
Also, the percentage of new homes with four or more bedrooms and three or more full bathrooms rose to 46% and 34% respectively, according to the NAHB’s newly released report, What Home Buyers Really Want. The NAHB released its annual survey during this week’s 2022 International Builders’ Show in Orlando, Fla.
Consumers say their home preferences have changed due to the pandemic. Millennials and Generation X, in particular, say they are looking for homes designed to accommodate multiple generations. In a separate study, conducted by the National Association of REALTORS® in 2021, the rising demand for multigenerational homes also became apparent: The number of home shoppers buying a multigenerational home since the pandemic began rose to a nine-year high of 15%. Read more: Buyers Are Increasingly Shopping for Multigen Homes
Most Popular Paint Colors Throughout the Home
Classic white remains the most popular color choice in kitchens, but homeowners continue to experiment with wider palettes for that room and other areas of the home.
“With white kitchens, there’s never a risk of looking dated in a few years, while the sleek minimalistic feel is effortlessly complemented by dark counters or contrasting kitchen accessories,” says Living Cozy, a home design resource, which analyzed global search data about design over the last 12 months.
White also ranked in the three most popular for several rooms in the house that might “benefit from the illusion of more space,” such as pantries, home offices, and laundry rooms, according to the study.
Consumers’ Preferences for the ‘Perfect’ Kitchen
The kitchen is a prime attraction when buyers are shopping for homes, but it’s not just a place for cooking. It’s also an area for entertaining and even working.
Consumers ranked efficiency and functionality as the most important aspects of the perfect kitchen, according to a survey of more than 1,000 Americans from HomeAdvisor. The perfect kitchen, most respondents say, also has a gas stove with four burners and an overhead hood.
Home Features Prompting More Americans to Move
About 40% of 2,100 Americans recently surveyed say they are considering a move in 2022. Gen Z and millennials, remote workers, renters, and parents with young children are all planning a move, according to a new survey from LendingTree.
For the more than 800 survey respondents planning a move this year, their top reasons are a home that is more pet-friendly, offers more outdoor space, and has a large kitchen.
The home features leading their housing searches also typically differ by age group. Gen Zers and Gen Xers ranked a happy home for their pets as a top must-have. Millennials, on the other hand, prioritize outdoor space. A large kitchen ranks highest among priorities for millennials and baby boomers, the survey finds.
10 Ways the Kitchen is Evolving for Greater Efficiency, Health
-When space permits, an island has become the heart of the room.-White is still the go-to color for kitchens, but other colors are gaining momentum in personalization.Z-ones for tasks like baking, coffee making, and working are the new way to separate space.
Kitchen trends are like fashion—wait a season and this color will be in and that one out. But the changes since the start of the pandemic a year ago have emerged to keep the room true to its moniker as the heart of the house.
7 Fixes to Avoid Major Foundation Problems
Water is not always our friend. Sure, we drink it, swim in it, and need it to survive, but when it comes to homes, it can destroy the foundation, says home inspector Thomas Dabb of Immaculate Home Inspections in South Orange, N.J.
Water can enter a home from the exterior and interior, so buyers and homeowners need to keep their eyes open for signs of its presence—or worse—its damage.
The good news is that there are many experts available to spot and diagnose a problem and suggest the best fix. Water expert Steve Barckley with Exceptional Stone Products in Livingston, N.J., believes that homeowners should start by doing everything possible on the outside of the homes to correct problems and divert water away from a foundation.
Share these seven solutions with clients to help them minimize a foundation’s damage in various scenarios.
The 3D-Printed Home Option
A new era of affordable, fast-built, more sustainable homes is underway
-Using 3D printing in the creation of a home reduces waste and labor costs.-Construction tech companies can 3D-print the frame and walls of a house in under 48 hours. -The high initial costs of the technology are likely to keep 3D-printed homes a niche product for now.
With home prices rising and housing inventory tight, home buyers are craving a wider variety of options in a competitive market. While construction has picked up, labor shortages and the rising cost of lumber remain challenges. The U.S. is nearly 5 million homes short of meeting market demand. A new crop of companies say they have a solution: 3D printing technology. And their work could transform the way we build houses on a broader scale.